Reglstered number: 02171496
Charlty number: 803661
CLAN TRUST LIMITED
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

CLAN TRUST LIMITED
{A Company Llmlted by Guarantee)
CONTENTS
R￿trenGe and Admlnistratlve Details of the Company¥ It8 Trustees and Advisers
Chalm)an's Statement
Trustees. Report
Independent Examlner's Report
Statement of Flnancial Activitles
Balance Sheet
9-10
Notes to the Flnancial Statgm9nts

CLAN TRUST LIMITED
{A Company Limited by Guarantee
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2022
Trusteès
J A Alston
R C Alston. Chair
S M Oldfield
RJ Hirst
T F Papworlh
A M Ritchie
H J Raker
B T B Turner
Company reg18tered
numbeT
021714
Charity règl8t•Yèd
number
803661
RegisterÈd offlGg
Brown & Co
The Atrium
Sl George's Street
Norwich
Norfolk
NR2 4TA
Company 8ecretary
R H C Hughes
Accountant8
Larking Gowen LLP
Chartered Accountants
King Street House
15 Upper King Street
Norwch
NR3 IRB
Bankers
Barclays Bank PIC
5-7 Red Lion Street
Norwch
NR13QH
Solicitor8
Bitketls
Kingfisher House
1 Gilders Way
Notwtch
NR31U8
stockbroker8
Barratl & Cooke
5.6 Opie Street
Norwich
NR1 3DW
Page 1

CLAN TRUST LIMITED
(A Company Limited by Guarantee)
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 MARCH 2022
The chaimian presents his statement for the year.
Afler my tirsl year as Chaimian, I feel honoured and privileged lo be leading the Clan Trust. It's a pleasure lo
)rk with our team of Tr¢Jstees, partners and beneficiaries. The Clan Trust continues lo provide donations for
broad spectrum of charities. vdunleer groups and individuals across agricultural education, research and care
for Ihe elderly, enabling them to physically deliver help ￿ere needed. In this financial year Iwo examples of
thi5 a￿ the ongoing donation lo the Priscilla Bacon Hospice Appeal for palliative care and funding the Food
and Farmlng Discovery Trust through Ihe RNAA to deliver a schLX)Is education offering across Norfolk.
During the year the Trustees have started a strategic review lo reassess the priorities lor the charity gring
forward which include asset utlisalion, donations and fund raising opportunib'es. The Trustees and l are proud ol
what the Clan Trust has achieved in recent years, particularly YANA. To conlinue to move fotward, il 15
Important that the charity works lo provide more support in a Challenging economic climate alongside an
increased public profile to promote donations lo and from the charity. Work is ollgoing and we aim lo complele
this review in the coming year,
The prwrty portfolio is led by James Alston and Ben Turner ￿th a review underway explor(ng the optlons
available lo maximize the vaSue of the farm yard al Witton. We expect this strategy lo compleled shortly
folloM*d by a fomialisalion of all planning consents.
Our investment wrtfolio has performed ￿￿11 having ridden the volalilily of the previous year and conllnues lo
outperform. Stephen Oldfield and I maintain oversight on all liquid investments via Barrall & Cooke wlh a view
lo a conservative strategy over the longer term. This is evidenced by our move to increase cash reserves
towards the end of the year as risk factors increase.
The Clan Trust was fortunate enough to receive a subslanlial bequest which is in the process of being added
into the investment portfolio. This was the first bequest Into the charity for some time and was unexpected. We
are grateful for the bequealherfs generosity and will ensure that the lunds are invested and distributed
efficiently by the TTUSt.
Donations continue to show a good spread of beneliciaries and I would Ilke lo thank Alison Ritchie and Richard
Hirsl for their hard work. The Trustees reel that V•t can broad8n our reach and we aim lo increase the number
of donab'ons wherever possible.
Lastly, I would like to thank all the Trustees for their commitment and work Ihroughotrt the year. We continually
review the skill sets of Trustees and feel that ￿ have a strong team. We plan lo appoint a new Trustee each
year for the next bmo years lo add further skill sets and enable succession planning. I must also must thank Rob
ughes and Victoria English for their longstanding roles as secretary and adminislralive support respectively,
togelhei they provide great service and the corwrale memory which is highly valua￿e.
I look forward lo artother good year for the Clan Trust.
R C Alston
Chairman
Dale.. 12 September 2022
Page 2

CLAN TRUST LIMITED
{A Company Limited by Guarantee}
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2022
The Trustees present their annual report together wth the linancial statements of the C¢xnpany for the 1 April
2021 10 31 March 2022. The Annual Report sefves the purposes ol both a Tfuslees, report and a directors.
report under company law. The Trustees confirm that the Annual Report and financial statements ol the
charilable company comply wlh the current slalulory requirements, the requirement8 of the charitable
company's goveming document and the provisioris of the Statement ol Recommended Praelice ISORP)
applicable lo charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable
in the UK and Republic of Ireland (FRS1021 leflective 1 January 2019).
Since the company qualifies as vnall under section 382 of the Companies Act 20￿. the Strategic Report
required of medium and large companies under the Companies Act 20C6 Islralegic ReFQrt and Directors,
Report) Regulations 2013 has ￿en omilled.
Obl6ctlve8 and actlvlties
a. Poll¢l&3 and obJeetÉves
The objects of the company are that of.
promotion and assistance in charitable work and.
advancement of edLKation in agncullure and hottculture.
The trustees apply the charity's funds towards these objects by the maing of gtants toward5 educational.
agricultural and other charitable inlru¢tions in Norfolk and neighbouring counties.
b. How our grant programmo dellver•d public benefit
The Trustees have referred lo the guidanee containing the Charlly Commissions General Guidan￿ and Public
Benefit vthen reviewing names and objectives and in considering grant making. In particular, the Trustees have
considered how grant making wll contribute lo the aims and objectives they have sel.
Benefieiaiies of the Charity are students al various educatsonal institutions as well as, ullimalely, the industry of
agri¢ullure and horticulture in Norfolk and ils neighl)wiing Counties. The Trust also supports care lor the
elderly and infirrn in that region. During the year the Trust has conlinued to SUPFW)rt key agriculttsral education
ilh clear and obvious bènefits lo the CoLtnties. In particular support has been provided lo the University of
East Anglia Scholarship programmes as well as Norfolk Schdais al Harper Adams Universily College wlh the
provision of Scholarships.
The Trust also continues lo make legacy payments to the Priscilla Bacon Hospice and the Royal Norfolk
Agricultural Association in ils running of the Royal Norfolk Show and support of the Food and Farming
Discovery Trust.
The Trust continues to supp(xt rural mentsl health charities as requested.
Achlevements and perfonnancè
Key performance indicators
Performance of investments and rental rel¢Jrns are considered lo be the key Performan￿ Indicators of the
charity.
Page 3

CLAN TRUST LIMITED
IA Company Limited by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
Achlevements and performance Icontlnued)
b. Revlèw of a¢tlvltie8
During the year. donations of £34.050 were made in line ￿th the charitable objecls12021.' £68.3001.
Invostment pollcy and performancg
The company owns Witton Hall collages and a lolal 01 492,256 acres of land al Witton, Honing and
Edinglhorpe, all of which are let. The investment property valued by Bro￿ & Co al 31 Marth 2022 10
reflect the carrying value of investment pri)perty. As at 31 March 2022 the value of £6.160,000 has been
reflected in the balan￿ sheet
In addition, the trust holds investments in listed 5ecurib.es which are managed by Barrall & Cooke.
Financlal revlew
a. Golng concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the company ha5
adequate reSoU￿S lo continue in operational existen￿ for the foreseeabte future. For this reasor¢, they
continue to adopt the going concern basis in PTeparing the financial slatemenls. Further details regarding the
adoption of the going cOn￿M bass can be found in the accounting policies.
b. Reserves pollcy
Unreslricled reseNe8 amounted to £7.630,640 al 31 March 202212021.. £5,784.8791.
The Charity maintains sufficient liquidity, through a combination of cash al bank and cash held as part of its
inve31menl portfolio, to cover envisaged annual
adminislralion and profewonal Costs lil has no employees)
pr(¥)erty insurance, repaiis and asset mainlenatsce (including planning mallersl
donabons that have been commilled not paid (such as the Priscilla Bacon Lodge)
donations th* are repealing in nature lsuth as Norfolk Young Farmers ancl Counlrysidersl
Free Reserves, held via both cash al bank and as cash In the investment portfolio, after adjuslmenl for
donalions commilled and held in creditors falling due within one year for the Pris￿14a Bacon Lodge at the year-
end were £130,48912021 £14.0851.
Any surpluses ￿eated beyond this ￿quIrement during the year are invested for the purF)0ges of increasing
income to meet specific donatFons or lo enable relating to the charity's fulfilmenl of ils primary oty'eclives.
At year erKI the total reserves were £7.6m {2021 £5.7ml- DU￿ng the prior year the enllre reslricled reserves,
%thich all rolale lo the YANA prqecl, were donated lo the naw stand-alone YANA Chailty (reg no 11904431
such that the closing reslricled reserves were therefore £nil {2021 £nill.
Page 4

CLAN TRUST LIMITED
(A Company Limited by Guarantee)
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
Surplus
The result for the year ended 31 March 2022. before revaluations, was a suplus of £161,45812021'. deliclt of
£183,364). Net gains on investments lotslled £113,497 (2021 £226,966) and the revaluab'on ol fixed assets was
£1,570,806 12021.. Nil). The delicil before revaluations in the prtor year was caus￿1 by the donation ol the
reslricled YANA fund balance lo a separate. newly established Ihird party charity.
d. Flnanclal r18k management oblectives and policies
The trustees have adopted a medium risk strategy of investment seekn.ng lo provide sufficient Income to further
the grant making Capabilities of the ch2Tlty whilst maintaining capital value.
Structure. governance and management
. Company h18tory
Under a deed of merger dated 31 March 1997, the company acquired assets wlh a net book value at that dale
of £891,(EO from the Clan Trust, a charity wlh similar objectives established on 1 March 1968 by the late Rob
Alston.
On 28 June 1990 the company was granted charitable status by the Ctr>arity Commission.
HMRC ha8 also ¢onfim)ed the charitable status of the company, thus reSieving the company of the li8bility to
eorwralion tax on Su￿luse9 of income ovei expenditure, including investment Income, applied for charitable
purpose&
The company Is limited by guarantee and does not have shale capital. The members are liable lo conlriiKrte a
sum not exceeding £1 each lo the Gompany's assets in the event of the company being wound up.
b. Methods of appointment or gloction of Trustees
The management of the company is the responsbility of the Trustees are elect&J and ccw)led urKler the
terms of the Memorandum of Associalion.The trustees who serviced throughout the year are recorded in the
Legal and Adminislralive Inlormalion on paga 1.
In accordance with ihe Articles of Association the council must be made up of at least three members, with no
maximum. The trustees are conlenl ¥Mth the cuirent size of the board. New members are elected to the board
al General Meellngs of the company members, being either retiring members of the board or nominees lo the
board. One third of the members ol the board retire al each Annual General Meeting of the company, and are
eligible for re-election. Where there is a need lo recruit new Iruslee5, suggestions are sought from all existing
Iruslees. bearing in mind any skills gap that has been identified.
Training is provided lo new trustees as appropriale.
Organlsatlonal structure and declslon-maklng polic189
The Iru*ees hokd regular meetings to administer the affaits of the company.
In preparing this reFX)tl, the trustees have taken advantage of Ihe small CA)mpanies exemptions provided by
section 415A of the Companies Act 20(￿.
Page 5

CLAN TRUST LIMITED
IA Company Limitod by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
Statement of Trustees. re5ponslbilitie8
The Twstees Ivtho are also the directors ol the company for the purpose5 of company lawl are responslble for
preparing the Trustees, Report and the financial slalemenls in accordance wlh applicable law and United
Kingdom Accounting Standards Iunited Kingdom Generally AC￿pIed Accounting Praclicel.
Company Saw requires the Tfuslees lo prepare finanual slalemenls for each financial . Under company law the
Trustees must not approve the financial statements unless they are satisfied that they give a Irije and fair view
of Ihe state of affairs of the company and of ils incoming resources and application of resources, including ils
income and expenditure. for that period. In preparing these linancial slalements. the Trustees are required lo..
selecl suitable accounting policies and then apply them cOn￿stentIy.'
observe the meth(xJs and principles ol the Charities SORP {FRS 1021",
make judgments and accounting eslimales that are reasonable and prudent.,
slate whether applicable UK Accounlbng Standards IFRS 1021 have been followed, subject to any
material departures disclosed and explained in the financial stalemenls.,
prepare the financial slalements on the going concern ba￿S unless il is inappropriate to presume that the
company wll continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufflcient lo show and explain
the company's transactions and disclose wlh reasonable accuracy al any time the finan￿31 position of the
company and enabte them lo ensure that the financial statements comply wlh the Companies Act 2006. They
are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the
prevenbon and detection of fraud and other irregularib'es.
Approved by order of the members ol the t￿tsrd of Twstees and signed on their behalf by..
R C Alston
Chair
Oale.. 12 September 2022
Page 6

CLAN TRUST LIMITED
IA Company Limited by Guarantee)
INDEPENDENT EXAiVIINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2022
Independent Examiner's Reportto the Trustees of Clan Trust Limited {'the company'l
I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 March
2022,
Responsibilities and Basis of Report
As the Trustees of the company land ils directors for the purposes of company lawl you are responsible for the
preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Acl'},
Having satisfied myself that the accounts of the company are not required lo be audited under Parl 16 of the
2006 AGI and are eligible for independent examination, I report in respect of my examination of the company's
accounts carried out under section 145 Df the Charities Act 2011 I'the 2011 Act,). In carrying out my
examination I have followed the Directions given by the Charity Commission under section 14515)(bl of the
2011 Act.
Independent Examiner's Statement
I have completed my examinalion. I confirm that no matters have come to my attention in connection wtlh the
examination giving me cause lo believe-.
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act.,
or
the accounts do not accord with those records., or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of
an independent examination., or
the accounts have not been prepared in accordance with the methods and principles of the Slalement of
Recommended Practi￿ for accounting and reporting by charities lapplicable lo charities preparing Ihoir
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 10211.
I have no con¢ems and have come across no other matters in connection ￿th the examination lo which
allenlion should be drawn in this report in order lo enable a proper understanding of the aceounts lo be
reached.
This report is made solely lo the wmpany's Trustees, as a body, in accordance with Parl 4 of the Charities
(Accounts and RepDrtsl Regulations 2008. My work has been undertaken so that I might slate to the company's
Trustees those mallers l am required to slal& lo them in an Independent Examiner's Report and for no other
purpose. To the fullest exlenl permilled by law, I do not a¢cept or assume responsibility lo anyone other than
the Company and the company's Trustees as a body. for my work or for this report.
Signed".
LJ
Dated.. 14 September 2022
steven Rudd
FCA
Larking Gowen LLP, Chartered Accountants, King Street House, 15 Upper King Street, NR3 1 RB
Page 7

CLAN TRUST LIMITED
IA Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 MARCH 2022
Unrestricted
funds
2022
Total
funds
2022
Total
funds
2021
Note
Income from:
Donations and legacies
Investments
115,810
107,755
115,810
107,755
24,682
97, 761
Total income
223,565
223,565
122,443
Expenditure on:
charital￿e activities
62,107
62,107
305,807
Total expenditure
62,107
62,107
305,807
Net IncomÈllexpendlture} before net gains on
Investments
Nel gains on investments
Net movement In funds before other recognised
gains
161,458
113,497
161,458
113,497
(183,364)
226,966
274,955
274,955
43,602
other recognlsed galns:
Gains on revglualion of fixed 8ssets
1,570,806
1,570,806
Net movement in funds
1,845,761
1,845,761
43.602
Reconclllatlon of funds:
Total funds brought forward
Nel movement in funds
5.784,B79
1,845,761
5,784.879
1,845,761
5, 741,277
43,602
Total funds earrled fotward
7,630,640
7,630,640
5, T84, 879
The Slalement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 1110 21 form part of these financial slalemenls.
Page 8

CLAN TRUST LIMITED
IA Company Limited by Guarantee)
REGISTERED NUMBER." 02171496
BALANCE SHEET
AS AT 31 MARCH 2022
2022
2021
Not
Flxed assets
Investments
Investment property
10
1,340,151
6,160,000
1,211,324
4.559.470
7,500,151
5. 770, 794
Current assets
Debtors
Cash al bank and in hand
11
14,027
192.262
13.239
132,510
206,289
145, 749
Creditors.. amounts falling due within one
year
12
{50,8001
(87, 664)
Net current assets
155,489
64.085
Total assets less ¢urrènt liabilities
7,655,640
5,834,879
Creditors.. amounts falllng due after more
than one year
13
125.0001
{50, Oth9)
Total net assets
7,630,640
5, 784, 8T9
Charlty funds
Restricted funds
Unreslricled funds
7,630,640
5. 784, 879
Total funds
7,630,640
5. 784,879
Page 9

CLAN TRUST LIMITED
IA Company Limited by Guarant¢el
REGISTERED NUMBER: 02171496
BALANCE SHEET ICONTINUEDI
AS AT 31 NIARCH 2022
The company was enlilled to exemption from audit under section 477 of the Companies Act 20C6.
The memters have not required the company lo obtain an audit for the year in question in accordance with
section 476 of Companies Act 20CE.
The Trustees acknO￿edge their respc¥)sibililies for complying wlh the reqltirements of the Acl respect to
a¢counting records and preparation of financial statements.
The finartryal statements have been prepared in accordance with the provisions applicable lo enlilies subject lo
the small companies regimo.
The Ilnancial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
R C Alston
Chair
Dale.. 12 September 2022
The notes on pages 1110 21 fomi part of these linancial $lalemenls.
Page 10

CLAN TRUST LIMITED
IA Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Accountlng pollcles
1.1 Basis of preparation of flnanclal statements
The financial slalemenls have been prepared in accordance wth Ihe Charlties SORP IFRS 1021
Accounting and Reporting by Charities-. Statement of Recommended Practice applicable lo charities
preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive l January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companie3 Act 20￿.
Clan Trust Limited meet5 th• dafinltion of a public benefit enllty under FRS 102. Assets and
liabilities are inllially recognised al historical cost or transaction value unless olhewse slated in the
relevant accounting policy.
1.2 Company status
The company is a company limited by guarantee, incorporated in England and Wales. The
members of the company are Ihe Tustees named on page 1. In the event of the company being
V+ound up. the liability in respect of the guarantee is limited lo £1 per member of the company.
1.3 Income
All income is recognised once the company has entillemenl lo the income, it is probable that the
income will be re￿iVed and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of
receipt and the ability lo estimale wlh sufficient accuracy the amount re￿iVable. Evidence of
enlitlemenl lo a legacy exists when the Company has suflicienl evidence that a gift has been left lo
them Ithrixjgh kno￿edge of the existence of a valid will and the death ol the benefaclorl and the
executor is satisfied that the property in question wll not be required lo salisly claims in the estate.
R￿elp1 of a legacy musl be recognised Mthen it is probable that it will be received and the fair value
of the amount receivable, which will generally be the èxpected Gash amount lo be distributed lo the
company, can be reliably measured.
Income lax recoverabte in relation lo donats.ons received under Gift Aid or deeds of covenant is
recognised al the lime of the donation.
Income lax recoverable in relation to investmenl income is recognised al the time the investment
income is re￿•vable.
1.4 Expendlture
Expenditure is recognSsed once there is a legal or conslruclive obligation to l¥ansfer economic
benefit lo a third party, il is probable that a transfer of economic benefits will be required in
Illement and the amount ol the obligation can be mea8ured reliably. Expenditure is classifred by
activity. The c(Isls of each activity are made up of the lolal ol direct c0818 and shared costs,
induding support costs involved in undertaking each activity. Direct CO819 allribulable lo a singl8
activity are alloealed directly to that aclivily. Shared costs which contribute to more than one activity
and wpw)rt eosls which are not attributable to a s¢ngle activity are apportioned between those
activities on a basis ¢onsislent wlh the use of resources. Central staff costs are allocated on the
baws of lime spent, and depreciation charges allocated on the porb'on of the asset's use.
Page 11

CLAN TRUST LIMITED
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Accounting pollcles {conllnuedl
1.4 Expenditure l¢ontlnuedl
Expendilure on charitable activities is incurred on direGlly undertaking the activities which further the
company's objecliveg, as well as any a&8ocialed SUPF)Ort costs.
Grants payable are charged in the year when the offer is made exeepl in those cases there the
offer is conditional, such grants b￿"ng recognised as expenditure when the conditions attaching are
fulfilled. Grants offered sU￿-eCt to conditions vthich have not been met al the year end are noted as
a commitmenL bul not acGru&Y as expenditure.
1.5 Investments
Fixed asset investments are a forrn of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value al the Balance Sheet dale. unless the
value cannot be measured reliably in which case il is measured al cost less impairment. Investment
gains and losses, whether realised or unrealised, are combined and presented as,Gain￿lL0Sses} on
investments, in the Statement of Financial Activities.
1.6 Interest recelvable
Interest on funds held on deFX)Sit is induded when receivable and the amount can be measured
reliably by the company.. this is nomally uwn notification of the interest paid or payable by the
institution ￿th whom the funds are dep￿ted.
1.7 Investment property
Investment property valuations are updated based upon professional advice provided lo the
Trustees by Brown & Co - Property and Busine55 Consullanls LLP.
1.8 Debtors
Trade and other debtors are recognised al the selllemenl amount after any trade dI￿oUnt offered.
Prepaymenls ale valued al the amount wepaid nel of any Irade dI￿OUnt8 due.
1.9 Cash at bank and In hand
Cash at bank and in hand indudes cash and ghort-lerm highly liquid Investments with a short
maturity ol three months or less from the dale of acquisition or openlng of the depos11 or similar
account.
Page 12

CLAN TRUST LIMITED
IA Company Limited by Guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Aecountlng pollcles (conllnuedl
1.10 Liabllltles and prov181on8
Liabilities are recognised when there 15 an obligation al the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit wll be required in selllement. and Ihe
amount of the settlement can be estimated reliably.
Liabilities are recognised al the amount that the company anlicipale5 11 wll pay to settle the debt or
the amount il has iecelved as advanced payments for Ihe goods or services it must provide.
Provisions are measured al the best estimate of the amounts required to settle the obligation.
Where the effect of the lime value of money is material, the provision is based Dn the present value
of those amounts, discounted at the pre-tax discount rale that reflects the risks specific to the
liability. The umnding of the discount is recognised in the Stalemenl ol Financial Activities as a
finance cost.
1.11 Financial instrumènts
The Company only has financial assets and fsnancral liabilities of a kind that qualify as basi
financial inslrLJmenls. Bas¢ financial instruments are initially recognised al transaction value 2nd
subsequently measured al their settlement value wth Ihe exception of bank loans which are
subsequently measured at amortised cost using the effective interest methLXJ_
1.12 Fund accounting
General funds are unreslricled funds which are available for use al the discretion of the Truslees in
furtherance ol the general objectives of the company and which have not been designated for other
purposes.
Restricted funds are funds which are lo be used in accordance with specific restrictions impDsed by
donors or which have been raised by the company for particular purposes. The cost8 of raising and
administering such funds are charged against the specific tund. The aim and use of each restricted
fund is set out in the notes lo the financial stalemenls.
Investment income, gains and losses are allocated to the appropriate fund.
Income from donatlon$
Unrèstflctsd Restricted
funds
funds
2022
2022
Total
funds
2022
Donations
Legaaes
500
115,310
500
115,310
Total 2022
115.810
115,810
Page 13

CLAN TRUST LIMITED
IA Cornpany Limtted by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE Y&qR ENDED 31 MARCH 2022
Income from donatlon8 Icontinuedl
Restricted
funds
2021
Total
funds
2021
Donations
24.682
24,682
Investment income
Unrestricted
funds
2022
Total
funds
2022
Rent receivable
Listed investments
77.431
30.324
77,431
30,324
107,755
107,755
Unr8slricled
funds
2021
Total
funds
2021
Rent ￿CeiVable
Listed investments
77. 145
20.599
17
77, 145
20,599
17
Other investments
97,761
97,761
Page 14

CLAN TRUST LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Analysls of donation8
Grants to
Institutions
2022
Total
funds
2022
Donations
34,050
34,050
Grants lo
Institutions
2021
Total
funds
2021
Oonalions
242, 980
242,980
Page 15

CLAN TRUST LIMITED
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
2022
2021
Analysi8 of donations
Aylsham and District Care Trust
Age Concern
Agrilood Charities Partnership
Art for Pleasure
Asthma Relief
Astro Braln Tumor Fund
Aylsham Agricultural Show
Brib"sh Red Cross
Centre 81
C N Dunne, funding towards PhD "Women in Agriculture" Research
Eat Farm Now
East Anglia Children Hospices
Ferbianc
Harper Adams University Develtspmenl Trust
Hear for Norfolk
Heritage House Caring Group Ltd
Livability
Ludham Village Hall
Motor Neurone Disease
Muscular Dystrophy
NARS
Norfolk Community Foundation
Nuffield Farming Scholarships Trust
Norfolk Young Farmers Countrysiders
North Norfolk Community Transwrt
Oliver Scoll. _ Worshipful Farmers Leadership Development Course
Rolhamsled Research
Peter Mason - Worshipful Company ol Fam)eTS' Course
Royal Norfolk Show
RNAA
RABI
Royal Mar5ton H(Ispilal
Stepping Stones
Suffolk Aqricultural Association
500
1,000
150
200
5,150
700
700
1,250
1,250
2,000
300
1,000
3,000
4,050
2,900
7,000
soo
300
300
2.0¢)0
30, 000
500
17501
3,000
1,000
7,750
5.000
3,000
300
1,000
Subtotal
39.500
56,550
Page 16

CLAN TRUST LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Analysis of donations Icontlnuedl
The Greatest Agricultural Show
The Country Trust
The Matthew Project
The Norfolk H05pice
The Papillon Projecl
The Salvation Army
University of East Anglia
Waveney Stardust Trust
West Norfolk Befriending
Wood Dalling Church
YANA
Creditor adjustment
3,500
4,250
2.000
250
500
2.000
1,000
300
116,0001
Total donatlons
34,050
68.300
These grants were made out lo Individuals rather than inslilulions.
In the prior year. donation expenditure included a Iransler of the YANA reslricled fund, and its assets, to
a n￿Y established third pafty charity. This was a restricted donation of £174.680.
Analysls of expenditure on charltable actlvltles
Summary by fund type
Unrè8trlctgd
funds
2022
Total
lunds
2022
Other costs
Donations
28.057
34.050
28.057
34,050
Total 2022
82.107
62.107
Page 17

CLAN TRUST LIMITED
IA Company Limlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Analysis of expendlture on charltsblè activities l¢ontlnuedl
Sufnmary by fund lype Icontlnuedl
Unreslricled
funds
2021
Restricted
funds
2021
Tolal
funds
2021
Other costs
Donations
29,026
68.300
33,801
174.680
62,827
242,980
97.326
208,481
305,807
Dlrect cos1$
2022
2021
Sundry
YANA
Insurance
Residential costs
Management fee
Governance costs
3,727
3,635
33,801
6,816
6. 764
1,520
13,121
6,687
698
8.541
8.404
28,057
65, 657
Governance cost8
2022
2021
Professional fees
Independent examinerfs fee
5,254
3,150
10,121
13.121
Page 18

CLAN TRUST LIMITED
IA Company Limited by Guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Trustè¢s' rèmuneration and expen$e¥
During the year, no Trustee$ received any remuneTalion or other benefits (2021- £NIL).
During the year ended 31 March 2022, Squarespac8 subscription expenses tolalling £120 were
reimbursed lo 1 Trustee (2027 - £NILI
Investment property
Freehold
Inyestmgnt
property
Valuation
Al 1 April 2021
Additions
Surplus on revaluation
4,559,470
29,724
1,570.806
Al 31 March 2022
6,160,000
The 2022 valuations were made by Brown & Co, followtng a valuatton on 31 March 2022, on an open
market value for existing use basis.
10.
Flxed asset investments
Listèd
Investments
Cost or valuation
Al 1 April 2021
Additions
Disposals
Revaluations
1,211.324
188,262
1172,9321
113,497
At 31 March 2022
1.340,151
Net book value
At 31 March 2022
1,340.151
Al 31 March 2021
1,211,324
Page 19

CLAN TRUST LIMITED
{A Company Limited by Guaranlee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
10. Flxed a88et Investments Icontlnued)
2022
2021
Inveslments at market value comprise:
Listed investments
1,340,151
1,27 1,324
2022
2021
Materlal Investments
M&G Charifund Accumulalion Units
249,103
221,239
11. Debtors
2022
2021
Other debtors
Prepayments and accrued income
892
13,135
13.239
14,027
13,239
12. Crodltor8: Amounts falling dug wlthln one year
2022
2021
Other laxalion and social security
other creditors
Accruals and deferred income
312
47,650
3.150
72.350
9.002
50,800
81,664
2022
Deferred Incomg
Deferred in¢ome at 1 April 2020
Resources deferred during the year
Amounts released from previous years
850
850
18501
Deferred Income at 31 March 2021
850
Page 20

CLAN TRUST LIMITED
IA Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
13. Creditors: Amounts falllng due after more than one yoar
2022
2021
Other creditors
25.000
50,000
25.000
In 2019, the charity committed to fund the Priscilla Bacon Appeal. pledging lo dO￿ale a lolal of
£205.000.
During the year end&J 31 March 2020 £105.(M)O of the donalion was paid. ￿1c￿ includ&1 £80.000 for
the construction of a mu&c room and a further £25,000.
The remaining £50,000 15 split between ￿ £25,000 inslalmenls payable for the financial years
202212023 and 202312024. The inslalmenl of £25,000 due in the financial year 2023124 has been
included in creditors due after one year.
14. Summary offund8
Summary offundB- current year
Balance at
31 March
2022
Balance at 1
Apill 2021
Galnsl
{Lossesl
Income Expenditure
General funds
5,784,879
223.$65
{62.1071 1,684,303
7.630,640
Sumfnary offunds- prloryear
Balance al
31 March
2021
Balance al
7 Aprrf 2020
Gain
(Losses)
Income Expendrture
General funds
5.571,516
169,761
97,761
24, 682
(97,326J
(208,467)
212,928
14,038
5. 784, 879
Restricted fuThls
5, 741,277
122,443
(305,807)
226,966
5, 784, 879
16. Related party transactions
During the year ended 31 March 2022, the Trust made a grant payments of £1,000 12021,. £500110
Ferblanc, H J Raker is a director of Ferblanc, and £5,000 {2021." £4.0001 lo the Royal Norfolk
Agricultural Association IRNAA), R C Alston is a director of RNAA.
Page 21